All Forum Posts by: Robbie Reutzel

Hi Anthony,

I agree with Mike, get it under agreement and then if you find out zoning won't allow you to build, adjust your price.  It could be a great opportunity to sell it off to a developer or even pay to have a structure built and then you personally sell it off.

In order to assess value I would take a look at the neighborhood you are in, take the average house and then find comps for house prices.  That will give you a decent idea of what price you could get for a house built there, assuming it is properly zoned.  You could also run comps on raw land to get an idea of how much the land itself could sell for.

Welcome Colin!

I suggest reading the Ultimate Beginner's Guide to Real Estate Investing as well as listening to the podcasts. 

Also, since you seem to be planning to renovate, J Scott's book on Flipping houses.

Good luck!

Hello Eddie,

Welcome to BiggerPockets!  Make sure you read the Ultimate Beginner's Guide and listen to the podcasts.  Seriously, I would start with #1 as each of them has several things you can take away and use in your investing career.

I would also start attending REIAs.  

Good luck reaching your goals!

Best,

Rob

Welcome to BiggerPockets!

This is a great place to learn.

Start by reading the Ultimate Beginner's Guide.  I would also listen to all the podcasts and set your keyword alerts.

The forums are a great resource.  Don't be afraid to ask questions as people are extremely helpful here.

I wish you luck on your journey.

Best,

Rob

Right!  I guess I just meant that it might take a while to find one, but I think it is worth trying out.

I have never done this on Zillow but I have on Craigslist and not all that much.  

I would think those advertising might be scared off by owner financing but, like most things, I am sure it is worth a try.  You may run into a tired landlord looking to unload the property.

I wouldn't expect your deal rate to be too high but I would definitely be curious if it works.

Good luck!

-Rob

Just to follow-up, negotiable may not mean lowering the price.  As Betty mentioned, the developer will typically not want to lower the price in fear of screwing up comps.  

However, you may be able to negotiate upgrades to some of the items in the unit e.g., paint, carpet, tile, other flooring and/or finishes for free.

It's hard to say whether they would be willing to do this unless you, or your Realtor, ask.

Hi Jay,

It is hard to say if you would be able to negotiate.  I think it is just a function of the extreme seller's market.  The owners are probably confident that they can get full list price and are telling the sales person that the price is not negotiable.

If I were you, I would definitely use a real estate agent.  Their commission is taken from the purchase price so there is really no reason not to have one.  They may be able to help you negotiate.

Best of luck,

Rob

Hi Brian,

I have, and several others from Massachusetts, have tried to play around on that and the court website to generate probate and other lists.  To my knowledge nobody was able to do it online.  

Please let us all know if you are able to get it to work and welcome to BP!

Hi Kevin,

Welcome to BiggerPockets!

You will find that this is a great resource for REI. I would suggest reading the Ultimate Beginner's Guide as well as J. Scott's books on flipping and estimating rehab costs since you seem to be focused on flipping.

Listen to the podcasts as well.  

I also suggest you start attending REIA. Black Diamond has one in Waltham and Shrewsbury and Justin Silverio's networking event is this Wednesday at Sam's Bistro in Reading from 6:30-9:30.

Good luck!